JAKARTA (TheInsiderStories) - Shareholders of PT Bank Rakyat Indonesia Tbk (IDX:BBRI) has approved the appointment of Suprajarto as new President Director of the bank, replacing Asmawi Sjam. Indra Utoyo, former Telkom Indonesia director, has also been appointed as new director for operation of BRI.
The board of commissioners composition is also changed. Mustafa and Fuad Rahmany were dismissed and were replaced by Andrinov Chaniago and Nicolaus Teguh Budi.
BRI shareholders also agreed to distribute dividend of Rp428 per share or Rp10.48 trillion, 40% of the bank’s 2016 net profit of Rp26.195 trillion.
The bank is currently in healthy financial condition as reflected in its capital adequacy ratio (CAR) of 20%, providing wider room for the bank to expand its business in the next two years.
The appointment of Indra Utoyo, who was previously director for innovation and strategic portfolio of Telkom, is seen as move by BRI to strengthen its digital technology in serving the market, in particular by utilizing the growing of financial technology (fintech).
Meanwhile, Finance Director of BRI Haru Kusmadihardjo said BRI plans to issue bonds worth Rp8 trillion in the second quarter. The bond issue is part of its medium plan to issue up to Rp20 billion to strengthen the bank’s capital structure. Last year, BRI issued wonds worth Rp4.6 trillion. The remaining bonds will be issued in 2018. (*)